| 09 Jun 2009 |
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Noor International Holding and LG Electronics Sign MOU for Strategic Partnership
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Amman, Jordan : Noor International Holding and LG Electronics (LG)LG Electronics (LG)
, a global leader and technology innovator in consumer electronics and mobile communication, and Noor International Holding - Real Estate Development recently announced the cementing of their strategic relationship through the signing of a Memorandum of Understanding (MOU).Noor International, together with LGLG Electronics which is renowned for its global leadership in the fields of air conditioning, consumer electronics, IT products, and mobile communication, are contemplating to enter into one or more specific project agreements, whereby LGLG will be the preferred partner for Noor International. This includes making use of LGLG's leadership in the aforementioned product categories to develop business propositions and tools for, and together with, Noor International.
The Memorandum of Understanding was signed in Beirut by Dr. Mohammad Saleh, Chairman of Noor International Holding and Mr. Kevin Cha, Managing Director of LG Electronics Levant.
The parties currently envision that such strategic cooperation will initially and primarily focus on air-conditioners, consumer electronics, and household appliances projects such as, but not limited to, hotels, malls, buildings, villas, commercial residences, and modular cities.
The Managing Director of LG Electronics Levant, Mr. Kevin Cha, expressed his satisfaction with this latest partnership, adding, "We are very pleased with the signing of this agreement, and proud to provide our partners, Noor International, with our innovative products and services and state-of-the art technologies for their upcoming projects."
From his end, The Chairman of Noor International Holding, Dr. Mohammad Saleh, said:" These joint efforts will undoubtedly and substantially accelerate Noor and LGLG's worldwide development."
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About LGLG Electronics, Inc.
LGLG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD 44 billion, LGLG is comprised of five business units - Home Entertainment, Home Appliance, Air Conditioning, Business Solutions and Mobile Communications. LGLG is the world's leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems. For more information, please visit www.lge.com.
About Noor International Holding
Noor International Holding is specialized in real estate development. Established in 1995, it has developed more than 12 projects in the Middle East and the Gulf region, including state-of-the-art residential townships, commercial complexes, and a series of distinctive hospitality and institutional projects. Noor International Holding, as the first Real Estate Factory, works within the framework of a clear strategy in cooperation with its international Partnerships and Affiliations that meet to develop the Real Estate project concept into a tangible reality. To name but a few as Panasonic, Westech, Philips, Contour Entertainment, BA, Feasibility, Barbera Café, The Turkish Giant IHLAS, LGLG Electronics ,Inc, Emerson LP, Concierge, Five Continents,...and others..... For more information, please visit www.noorih.net.
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